Well, it is not an easy task and we need to analyze several points before we start the study. Our market research should be focused on the following parameters: Disease landscapeCompetitive landscapeRegulatory framework In this article, we will cover all the points which should be considered while doing market research. To understand the disease landscape, we need to study the following sub-parameters: Epidemiology which will include the disease incidence and prevalenceUnmet needs in the marketDrivers
Sales territory design and management is a very sophisticated and complicated process in pharma industry. It’s definitely a win-win situation for the pharma company if the sales force is aligned properly and helps in increasing their revenue. The sales representatives are also motivated to achieve target and find innovative ways to improve the sales. Have you ever thought how to properly design the territories? Major factors are workload and change in opportunities like market shift
Pharma companies often spent time & resources running after the KOL’s. A KOL can also be an influencer who will play a major role for the pharma industry. A KOL is not only an expert whose opinion is valued in a specific industry but also listened by a broader audience. Pharma companies identify relevant KOLs across multiple therapy areas of expertise and maintain a high-quality network of thought leaders from across the globe. The approach
Target setting is mostly a negotiation process across sales managers; often subjective with little data involved. However, adjustments to individual territory targets are not allowed and there are no clear rules and no clear ownership of the target setting process. Target setting process is too time-consuming process and deadlines are missed frequently. Sales target are not well managed and create perception of mid way game changing. Target setting process is a black box. Sales representatives
Well, it is a very complex process. If you are not sure about the particular KPI’s which should be considered for sales forecasting then your sales will surely go in negative direction. In this article we will discuss about the proper methodology which an analyst can use to forecast drug sales. Basically you need to be clear on the type of forecasting required for your project. Is it patient based forecasting? If so what geographies
